StockNews.com Downgrades TETRA Technologies (NYSE:TTI) to Hold

StockNews.com cut shares of TETRA Technologies (NYSE:TTI) from a buy rating to a hold rating in a report published on Friday.

A number of other equities analysts have also weighed in on the company. Stifel Nicolaus reduced their price objective on TETRA Technologies from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, April 15th. D. Boral Capital dropped their target price on TETRA Technologies from $5.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, May 1st.

TETRA Technologies Stock Performance

Shares of NYSE TTI opened at $2.97 on Friday. The company has a 50 day simple moving average of $2.91 and a two-hundred day simple moving average of $3.58. The stock has a market cap of $395.23 million, a price-to-earnings ratio of 148.57 and a beta of 1.31. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. TETRA Technologies has a 12 month low of $2.03 and a 12 month high of $5.12.

TETRA Technologies (NYSE:TTI) last issued its earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $157.14 million during the quarter, compared to analysts’ expectations of $160.52 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. As a group, analysts predict that TETRA Technologies will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On TETRA Technologies

Several large investors have recently made changes to their positions in the company. Royce & Associates LP acquired a new stake in TETRA Technologies during the first quarter valued at $2,701,000. Teacher Retirement System of Texas acquired a new position in shares of TETRA Technologies in the first quarter worth about $61,000. Skylands Capital LLC purchased a new stake in shares of TETRA Technologies during the 1st quarter worth about $321,000. Diversified Trust Co grew its position in shares of TETRA Technologies by 10.3% during the 1st quarter. Diversified Trust Co now owns 43,565 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 4,058 shares during the period. Finally, Byrne Asset Management LLC grew its position in shares of TETRA Technologies by 67.9% during the 1st quarter. Byrne Asset Management LLC now owns 15,277 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 6,177 shares during the period. 70.19% of the stock is currently owned by institutional investors and hedge funds.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.